Dopay, a Cairo, Egypt-based fintech company providing a digital payroll and payments platform, raised $13.5M in Series A funding.
The round was led by Argentem Creek Partners with participation from existing investors.
The company intends to use the funds to accelerate its rapid expansion in its initial market, Egypt, launch a range of new financial services, and expand its multi-bank, multi-country platform to other markets.Ā
Led by CEO and Founder Frans van Eersel, Dopay provides a suite of services that offer secure, instant, and cashless payments to businesses while driving financial inclusion for previously unbanked and underbanked employees. The platform enables real-time payments, even on weekends and holidays. Each account is equipped with a prepaid debit card, in partnership with Mastercard, providing 24/7 access to funds via ATM withdrawal. Enrolled businesses benefit from a secure and cashless payroll system, with user-friendly interfaces and complete transparency. Employees gain instant and secure access to banking facilities, regardless of their earnings. The company’s agent banking license allows for the swift delivery of digital banking services and seamless onboarding of employees and beneficiaries.
The company already serves a diverse array of corporate clients in Egypt, from small businesses to large enterprises employing thousands of workers. Clients include G4S, EFS Facilities Management and SWVL.
FinSMEs
22/07/2024